hi all,
Does anybody have experience with getting a mortgage after having gambling related debt problems?
I’ve paid my debt off (yay) so am now starting to save. My problems were at the end of 2014/ early 2015. So I’m 4 years into having various accounts defaulted.
Does anyone know who may be more likely to lend somebody with a trashed, but hopefully improved credit file. I am looking at moving next March 2020.
Many Thanks
Matt
There are ways of getting a credit rating without it impacting on your record. I know my credit rating is still average despite paying off all my debts and being responsible for the last few years.
Hi Matt,
My understanding when I worked in the banking industry years ago is that your Defaults will stay on your credit file for 6 years. At this point they will start to disappear off your credit rating.
By having a mobile phone on monthly it will assist you in building your credit rating and get you built back up again. I wouldn’t suggest a credit card or short term loan with a high interest rate as you’ll end up building up your debt again.
Some mortgage lenders will lend with you having defaulted it is just who you choose and they will give you a higher interest rate due to being more high risk.
I hope this makes sense.
CJ
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